https://www.taxtmi.com/caselaws?id=48218 Section 11AC of the Central Excise Act was construed as imposing a mandatory penalty in cases involving fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty, with no discretion to reduce the penalty below the statutory quantum. The proviso was treated as providing only limited relief where duty and interest are paid within the prescribed period, in which event the penalty is confined to the reduced rate specified by the statute. The scheme of the connected excise provisions was read as supporting a strict liability framework for evasion cases, and any penalty below the statutory amount was held unsustainable. en-us Wed, 11 Jul 2007 00:00:00 +0530 Tue, 03 Aug 2010 12:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48218 Section 11AC of the Central Excise Act was construed as imposing a mandatory penalty in cases involving fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty, with no discretion to reduce the penalty below the statutory quantum. The proviso was treated as providing only limited relief where duty and interest are paid within the prescribed period, in which event the penalty is confined to the reduced rate specified by the statute. The scheme of the connected excise provisions was read as supporting a strict liability framework for evasion cases, and any penalty below the statutory amount was held unsustainable. Case-Laws Central Excise Wed, 11 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48218